There are many nuances to a short sale transaction and every short sale is unique. Therefore the short sale agent you choose can make or break the deal, so choose wisely. When researching for a short sale agent, experience is very important. Research your local market and see who has the other local short sale […]
Posts Tagged: reos
Stockton short sales coming together!
We specialize in pre-foreclosure short sales in Stockton in San Joaquin County and are finally finding that the banks willing to cooperate. We have established relationships with banks and mortgage servicers to process short sales. They cooperate with us because we save them money and get the done. Sellers list with us because short sales […]
Over a Quarter of All 2010 Home Sales Were Foreclosures
According to RealtyTrac 26% of all home sales last year were foreclosures. In the Stockton area 72% of sales were bank or government held and 50% were REOs. Short sales accounted for 22% of all Stockton homes sold last year. Leaving 28% that were not bank or government related sales. For more information on the […]
Stockton Renters to Receive Landlord Foreclosure Notice
Over a thousand Stockton renters will receive notice this week that their landlord may be facing foreclosure. Almost half of Stockton’s foreclosures are rental properties. All renters should know their rights and not let banks and real estate agents push them into moving out until they have exercised those rights. According to Federal law a […]
Government to Decrease Financial Involvement in Freddie and Fannie
The Obama administration has announced a ‘winding down’ of financial involvement in Fannie Mae and Freddie Mac at an annual rate of no less than 10% per year. Timothy Geithner predicts it will take three years for the housing market to recover. Then, an additional two to three years for legislators to come to agreement […]
Stockton Foreclosure Data Shows Potential Optimistic Trend
Central Valley real estate could show optimistic trends based on Stockton November 2010 foreclosure data.
Impact of Foreclosure Suspensions on Central Valley Foreclosures
Download now or preview on posterous I.pdf (25 KB) According to the CVBT the recent foreclosure suspensions had little impact on the actual sales of foreclosed homes in California. However, the CEO of ForeclosureRadar speculates that the suspensions may lead to future scams claiming to overturn foreclosed properties. Overall foreclosure filings dropped slightly just after […]
Foreclosure Review Expected by January
According to Reuters, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve are coordinating their reviews of lenders’ foreclosure policies, procedures and loan documentation. They also report that the major lenders also face state investigations and possible settlements would call for Bank of America Corp, JPMorgan Chase & Co, Wells Fargo […]
California October Foreclosures are Down
RealtyTrac, has reported that 66,475 properties foreclosed in California this October. That is down nearly 12% from September and 22% from last October. However even with the drop in overall reported foreclosures, Modesto and Stockton still remain in the top 5 cities nationwide for foreclosures. Although this downward trend has been consistent over the past […]
Oakdale Vandals and Squatters – Examples of Central Valley Problem
Download now or preview on posterous http___www.oakdaleleader.pdf (16 KB) Over the last year, the city of Oakdale’s police department has received 164 calls related to disturbances at vacant properties. Many of those calls were to report vandals or squatters but other common violations include trespassing, theft and drug dealing. This problem is not unique to […]
Central Valley Foreclosure Rates Down From Last August
Download now or preview on posterous 11 02 10.pdf (26 KB) CoreLogic reported that Stockton foreclosures rate was 4.41% this August, down from last year’s rate of 5.41%. Stockton’s mortgage delinquency rate also decreased with 14.87% at 90 days or more delinquent down from 15.72% a year ago. This is all good news, but Stockton […]
Home Sales Up in US but Down in CA – Lenders Partially to Blame
National home sales were up 10% this September according to the National Association of Realtors. Some factors contributing to this growth are low mortgage rates and high affordability, home prices are averaging 22% less of where they were five years ago. Affordability has been influenced by the weakness in home buying activity. September’s home sales […]
HUD Secretary – Foreclosure Problems Aren’t Systemic
In the Federal Task Force meeting on Wednesday, the Secretary of Housing and Urban Development, Shaun Donovan said they have been aware of violations with certain servicers for some time and they will “take actions”. However, he stopped shy of identifying any systemic problems instead citing isolated non specific problems. More details could become available […]
Federal Task Force Investigation into Foreclosure Fraud Could Lead to Criminal Charges
According to CNN, White House Press Secretary Robert Gibbs the Federal Housing Administration and Financial Fraud Enforcement Task Force are in the process of an investigation into foreclosure regulations and they will expect any bank that violated the law to be fully accountable for those actions. The Task Force is meeting on October 20, 2010 […]
Foreclosures – Suspended or Expedited? Depends on Who You Ask
On October 7, 2010, Barack Obama rejected the Interstate Recognition of Notarizations Act, which would require courts to accept documents that have been notarized in another state. Many are calling for a moratorium on foreclosures, stating banks have reclaimed homes on fraudulent documentation. Just last week, Bank of America, JPMorgan Chase and GMAC announced they […]
The Good News and the Bad News for San Joaquin
Real estate market analysts have been hard at work crunching the latest round of numbers but what does it all mean? Wednesday the news looked optimistic for San Joaquin when it was reported that the area experienced a second quarter decline in foreclosures despite the fact that Stockton still remained 96th in the nation for […]
Tracy, CA, REO Tracy Home for Sale & Tracy Real Estate, 2657 Spencer Ct, Tracy, CA ,95377
Download now or watch on posterous 2657 Spencer Ct_Tracy_ CA_ 95377.mp4 (4812 KB) For information on this and all the Stockton homes for sale visit www.Homes-In-Stockton.com! Great Tracy REO & Home for sale in one of Tracy’s most desirable neighborhoods! Kitchen boast granite counters and tile floors. Open staircase and floor plan. Built in entertainment […]
A Glimmer of Hope
Download now or preview on posterous 08 03 10.pdf (23 KB) According to a recent report on CNBC, Stockton’s luck may be changing. More properties that would have previously been lost to foreclosure are instead becoming short sales. According to the report, San Joaquin County foreclosures have fallen from 85 to 68 percent and defaults […]
10 steps to ‘short sale’ buying
Bobbi Dempsey one of the authors of “The Complete Idiot’s Guide to Buying Foreclosures” blogs on the following list: 10 steps to short-sale homebuying 1. Identify potential short sales. 2. View the property. 3. Do your research. 4. Find all liens and mortgages. 5. Figure out the financing. 6. Contact the lender. 7. Complete the […]
Short Sale Fraud
In the recent article posted by Karl Denninger entitled New Short Sale Fraud Allegations: Second Liens, The subject of fraud with short sale subordinate lien holders is discussed. Unfortunately since second lien holders frequently, get 10% or less, they often request funds off the HUD to be brought in by real estate agents or the […]
Short Sales are Risky for Homebuyer Tax Credit
In the article titled Homebuyer-Tax-Credit-Deadline-Freezes-Out-Short-Sales By Steve Cook at Real Estate Economy Watch, Mr. Cook discusses the unpredictable and lengthy nature of short sale transactions. In particular, he focuses on the inability to rely on a short sale timeframe to guarantee qualifying for the Homebuyer Tax Credit which requires that a buyer be under contract […]
2nd position lenders knowingly commit fraud
The Short Sales and Bank Fraud story continues to gain traction. After CNBC aired the story we brought them, dozens of other media outlets, bloggers and authorities have contacted me to discuss this topic. Here is the story of how this fraud initially came to our attention, along with the evidence to back it up. […]
How will a Stockton short sale or loan mod affect your FICO score?
I receive many questions from potential Stockton short sale sellers regarding the impact of short sales, loan modifications and late pays on their FICO scores. The San Francisco Examiner published an article regarding the subject. Worth checking out. View article… Posted via email from www.Homes-In-Stockton.com Posterous
CNBC.com Article: Big Banks Accused of Short Sale Fraud
Big Banks Accused of Short Sale Fraud – Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks. For […]
The Second Mortgage Challenge
In order to do a short sale the second lien holder must also agree to the terms of the sale. This is even more challenging than with the first lien holder, since there usually isn’t much left to gain for the second in line. Obama’s administration has tried to encourage second lien holders into the incentive […]